About This Chapter
Consumer Protection & Product Liability - Chapter Summary
In this chapter's videos, our instructors discuss consumer protection requirements, product liability laws and the government agencies that supervise these regulations. Employees in your workplace will study topics including:
- Major consumer rights
- Types of product liability
- The Uniform Commercial Code's Article 2 and warranties
- The duties of regulatory agencies
- Antitrust laws
These lessons on consumer rights and protections can be viewed by individual employees or included in a group corporate training program. Your staff have several opportunities to assess their understanding through lesson and chapter exams.
How It Helps
- Ensures conformity: By training all your employees with the same study materials, you can ensure that they will have compatible expectations regarding consumer rights.
- Encourages information sharing: Our lessons include short quizzes that provide an excellent opportunity for your managers to discuss consumer protection regulations and share their experiences.
- Improves performance: Employees trained in consumer rights and product liability will be less likely to make mistakes that can be costly to a company, both in money and reputation.
When they've completed this chapter's lessons, your employees should be prepared to:
- Discuss the five major consumer rights outlined by President Kennedy
- Explain the theories of product liability
- Analyze the difference between implied and express warranties
- Name and describe the duties of government consumer protection agencies
- Describe some types of antitrust laws and what they do
1. Five Major Consumer Rights
Consumers should expect safe products and ethical behavior from businesses. While there is not any official regulation, President Kennedy introduced four of the five major consumer rights: safety, information, choice, voice and redress.
2. Practical Application: Five Major Consumer Rights Infographic
This infographic will help you visualize the five major consumer rights. By using this infographic, you'll have a visual representation that you can use to aid your own work and share the information with others.
3. What Is Product Liability? - Definition & Laws
Businesses are held responsible when their products are defective, known as product liability. Liability can be based on one or more of three theories: Breach of warranty, negligence, and strict liability. This lesson explains these three theories.
4. Warranties Under the Uniform Commercial Code
The Uniform Commercial Code's Article 2 covers contracts for the sale of goods. Article 2 contains warranties included as part of the sale of goods. This lesson explains the difference between express warranties and implied warranties.
5. Government Regulation Agencies for Consumer Protection
You will learn about the government regulatory agencies that protect consumers. We'll discuss what the acronyms CFPB, CPSC, FTC, FDA, NHTSA, and SEC stand for and their organizations' responsibilities.
6. Antitrust Law: Definition, Types & Outline
Antitrust laws are statutes developed to protect consumers from rapacious business practices by making it illegal for businesses to compete in unfair ways.
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